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[SCAMEXPOSER]

MUSK's decision has really pushed lots of bitcoin lovers and Investors to go on comparative study or research. The result from Galaxy Digital shows that traditional banks consume more energy than Bitcoin mining. The research was done in comparing gold to bitcoin mining and the results shows that bitcoin consume less energy to gold because Bitcoin network consumes an estimated 113.89 TWh/yr in total while gold utilizes roughly 240.61 TWh/yr. Results also shows that the banking system consumes the most energy especially in the areas of banking data centers, bank branches, ATMs, and card network's data centers."

 

[a_jerobon]

That is a very good research done and the results are really interesting. Here we are thinking that bitcoin mining uses so much energy and it should be banned. Yet the traditional banking systems uses up more. That shows we should appreciate bitcoin more.

 

[SCAMEXPOSER]

I mean with all those data just shows that bitcoin is better than the commercial banking system being used and enforced by the government is not a perfect system for us I with this rapid research on bitcoins will strengthen the market cap and only prove that Bitcoin more suitable for the need of the people towards financial aspects.

Obviously if bitcoin has been something government will have a full control over probably by now or government would have to approve it but it will hurt our nature and decentralized nature is why they look for everything to paint it red.

 

[ElPaule]

MUSK's decision has really pushed lots of bitcoin lovers and Investors to go on comparative study or research. The result from Galaxy Digital shows that traditional banks consume more energy than Bitcoin mining. The research was done in comparing gold to bitcoin mining and the results shows that bitcoin consume less energy to gold because Bitcoin network consumes an estimated 113.89 TWh/yr in total while gold utilizes roughly 240.61 TWh/yr. Results also shows that the banking system consumes the most energy especially in the areas of banking data centers, bank branches, ATMs, and card network's data centers."

This seems to be an interesting study, are you able to link it? I would like to read more about this, to understand better the details. This might be a great argument in future discussions but needs to be validated therefore. Thanks a lot

 

[SCAMEXPOSER]

This seems to be an interesting study, are you able to link it? I would like to read more about this, to understand better the details. This might be a great argument in future discussions but needs to be validated therefore. Thanks a lot

Actually, it is an interesting research that one should embark on, I will try if I can find the link for further information, I am sure lots of verification will be on going on this.

 

[LutherKing]

Well , Bitcoin uses huge energy as well + it disrupts the system badly for marine line due yo its sensitive and prone nature easily , their lives are important as well to be honedt

 

[SCAMEXPOSER]

Well , Bitcoin uses huge energy as well + it disrupts the system badly for marine line due yo its sensitive and prone nature easily , their lives are important as well to be honedt

If you are been following updates on cryptocurrencies you will discover that bitcoin energy consumption is on the low side .

 

[Wisdom01]

Exactly elon needs to note this and not to be focused on bitcoin mining energy like that , because when he talks about bitcoin issue of renewable energy what about the banks too

 

[Niftyicon]

The study done could have easily shown that there are other sectors that consume more energy than bitcoin but the important thing is to make use of clean sources of energy because of the impact on the environment.

 

[Wisdom01]

The study done could have easily shown that there are other sectors that consume more energy than bitcoin but the important thing is to make use of clean sources of energy because of the impact on the environment.

Yeah renewable energy always have a positive effect on the environment , that is why Elon keeps pushing more for the use of it

 

[SCAMEXPOSER]

Renewable energy sources will be more available in the near future so for now non renewable energy sources will be more in use while renewable replace it gradually especially for cryptocurrencies activities.

 

[LutherKing]

Yes , They Are But Solar Usage Will Damage The Ecosystem As Well Fr The Marine Life So Cautions Should Be Taken As Well To Avoid The Situation Tbh Actually .

 

[SCAMEXPOSER]

I believe if renewable energy is used to mine bitcoin it will be cost effective and possibly the transaction fee which miners benefits from could be reduced too.

 

[Niftyicon]

Yeah renewable energy always have a positive effect on the environment , that is why Elon keeps pushing more for the use of it

I think that in the near future, a solution to this critical issue would have been found, that is clean energy for powering of large systems and operations.

 

[Wisdom01]

I think that in the near future, a solution to this critical issue would have been found, that is clean energy for powering of large systems and operations.

We all know how the environment are currently faced with many damages and others , so the move for renewable energy is of great benefit

 

[Josemendez]

The issue of bitcoin Mining being environmentally hazardous is something that is propagated by government to destroy bitcoin. Out there are many environmental hazards that affect bitcoin

 

[Emmanuel24]

Wow! I never knew banking system used such huge amount of energy even to the extent that bitcoin mining that people think it has great effect of which it is not. Nevertheless, I look forward to renewable energy soon.

 

[Chibson]

This report may be true but a lot of people don't really know about it including myself. Bitcoin mining uses lots of energy but the banking system is not left out.

 

[Brain]

That is a very good research done and the results are really interesting. Here we are thinking that bitcoin mining uses so much energy and it should be banned. Yet the traditional banking systems uses up more. That shows we should appreciate bitcoin more.

You are right on your assertion. Because if I was asked I would have thought it is crypto mining that takes more energy but it seems that it is the other way round. So Bitcoin needs to be more valued

 

[SCAMEXPOSER]

I think the research was what proved bitcoin to consume less energy so the fast recovery is a justification that bitcoin mining doesn't consume energy.